Bancos e desenvolvimento industrial: uma revisão das teses de Gerschenkron à luz da história da Cervejaria Brahma, 1888/1917

Abstract

Al estudiar el caso de Brahma Brewing Ca. examinamos un aspecto de la inversión de capital extranjero en Brasil a principios del siglo XX que todavía no está suficientemente explicado por la historiografía económica: las inversiones extranjeras en proyectos industriales. En particular, apenas se comprende la relación entre los bancos, las empresas extranjeras y las industrias. Al examinar los datos de Brahma Ca. encontramos vínculos de asociación y un flujo de capital entre muchas empresas que tuvieron lugar dentro de la comunidad empresarial alemana en Brasil. La propia naturaleza de tales vínculos, basados ​​en contratos sólidos, se explica por el entorno institucional que prevaleció durante las primeras décadas de la República, cuando se produjeron muchos cambios importantes en la legislación comercial.

By studying the case of Brahma Brewing Ca. we examine an aspect of foreign capital investment in Brazil at the turn of the XXth century that is still insufficiently explained by economic historiography: foreign investments in industrial projects. Particularly, the relationship between banks, foreign trnde companies and industries is barely understood. By examining data from Brahma Ca. we find partnership links and a flow of capital among many enterprises that took place within the German business community in Brazil. The very nature of such links, based on salid contracts, is explained by the institutional environment that prevailed during the first decades of Republic, when many important changes in commercial legislation took place.